Multiple Equilibria as a Difficulty in Understanding Correlated Distributions

We view achieving a particular correlated equilibrium distribution for a normal form game as an implementation problem. We show, using a parametric version of the two-person Chicken game and a wide class of correlated equilibrium distributions, that a social choice function that chooses a particular correlated equilibrium distribution from this class does not satisfy the Maskin monotonicity condition and therefore can not be fully implemented in Nash equilibrium.

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Year of publication:	2005-11
Authors:	Kar, Anirban ; Ray, Indrajit ; Serrano, Robedrto
Institutions:	Department of Economics, University of Birmingham
Subject:	Correlated Equilibrium Distribution \| Implementation \| Monotonicity

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Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	12 pages
Classification:	C72 - Noncooperative Games
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005357606